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    Costco opens three clubs in Southeast


    Costco Wholesale, an international chain of membership warehouses, plans to enter nearly two dozen new markets during its fiscal year with openings in Tampa and Jacksonville in Florida and Durham in North Carolina, the US, said a top company official.

    At No 100 stood Costco Wholesale Corporation with a brand value of .7 billion. Costco is an American membership-only warehouse club that provides a wide selection of merchandise. In 2014, Costco was the third largest retailer in the United States, by 2015 it became the second largest in the world after Walmart with a revenue of 7 billion. Costco is known for offering low-price, limited-selection "retail treasure hunts", where "one's shopping cart could contain a ,000 diamond ring resting on top of a 64-ounce vat of mayonnaise.

    Commenting on the development, Richard Galanti, chief financial officer, Costco said, “We expect to open eight stores in international locations, increasing the total store base to 367 by year end which was a total of 331 last year.”

    “At the recently opened Tampa club, 30,000 people have already signed up for free membership the day before the club opened,” added Galanti.

    —IndiaRetailing Bureau